Less than a month after rumors first circulated, Estée Lauder has confirmed that it is set to acquire Becca Cosmetics; the acquisition is due to complete in November, 2016.
Terms of the deal were not disclosed, but analysts believe the purchase price to be over and above the original US$200 million sum originally requested by Becca Cosmetics owners Luxury Brand Partners. The brand will be added to the portfolio of brands overseen by John Demsey, Executive Group President, The Estée Lauder Companies.
Becca Cosmetics is a high-growth make-up brand specializing in primers, concealers, foundations, blushes and highlighters. Most of the brand’s foundations are available in 20 shades, with half dedicated to medium to deep tones and the other designed for light to medium shades.
The brand enjoys wide distribution across the US with a presence in Ulta and Sephora. It is currently engaged in a strategic global expansion with Sephora across Southeast Asia, Europe and the Middle East.
“Becca Cosmetics is a wonderful addition to our portfolio of prestige beauty brands,” said Fabrizio Freda, President and Chief Executive Officer of The Estée Lauder Companues. “Its unique focus on complexion products that flatter a wide range of skin tones, combined with its sophisticated yet accessible consumer and digital engagement across channels has inspired a devoted fan base. We see terrific growth opportunities for Becca as it expands globally and continues to cultivate its online and digital expertise.”
Added William P Lauder, Executive Chairman, The Estée Lauder Companies, “The Becca philosophy of inclusive beauty is a terrific match for The Estée Lauder Companies. One of our leading strengths is the ability to identify brands with unique positioning and nurture them to realize their full growth potential.”